EUR/CAD – 1H – SELLThe combination Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline downwards
A continuation of the downward movement down to the next support at 1.47783 will persist.
Caution: A possible change in the direction of the resistance level at 1.48440 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 1.47783 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support zone at 1.48440 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Black Crows’ candlestick pattern is detected. The candles show ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.49907 |
| 2nd High | 1.49263 |
| Next High | 1.48440 |
| Current Price | 1.47911 |
| Next Low | 1.47783 |
| 2nd Low | |
| 3rd Low |